California enacts new drug price transparency law
Governor Jerry Brown signed a law requiring drug companies operating in California to report price hikes in prescription medicines in certain instances. Thirty six other states have introduced bills on the issue in the absence of federal action to curtain drug price hikes. (Reuters, October 9, 2017, by Reuters Staff) The law forces drug companies to notify insurers before price hikes of over 16 percent over a two-year period. Drug companies would have to justify